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Bucharest's average office fit-out costs are among the lowest in Central and Eastern Europe (CEE) despite increasing by around 15-20% during the past 12 months, according to data from real estate consultancy company Cushman & Wakefield Echinox.
Deals with commercial real estate assets worth above EUR600 million are currently under advanced negotiations, so that the volume traded in 2023 is likely to be matched in the first half of the current year, in line with data released by real estate consultancy Cushman & Wakefield Echinox. ....
The modern stock of industrial and logistics spaces exceeded 7 million square meters across Romania at the end of 2023, with almost 80% of the total stock being concentrated in three development regions, namely, Bucharest – Ilfov, West and South-Muntenia, in line with data from real estate consulting firm Cushman & Wakefield Echinox. ....
After a period of three-four years in which real estate developers’ expansion plans were almost exclusively focused on retail parks, which accounted for over 80% of the new supply, located in cities with fewer than 50,000 inhabitants, a shift towards bigger cities was noticed in 2023, a trend which will continue on medium term at least, said Dana Radoveneanu, Head of Retail Agency at real estate consulting firm Cushman & Wakefield Echinox. ....
Romania’s capital city Bucharest has kept its 40th spot in 2023 too in a ranking of the world’s 50 most expensive shopping streets, with Calea Victoriei (Victory Avenue), the city’s main retail street, and places 50th out of 57 in a European ranking, in terms of retail space rents, just behind Ljubljana, as per a report by real estate consulting firm Cushman&Wakefield Echinox. ....